Two weeks after closing the capital raising for its recent East Tamaki industrial property acquisition, Provincia Property Fund has another under contract.
Provincia Property Fund announced today that it has a new industrial property in Mt Wellington, Auckland under contract. The exact address and purchase price are confidential until next week, after the property goes unconditional. Watch this space!
What can be revealed, though, is that the property is under contract for somewhere in the region of $7-8 million at a 6% yield, is fully occupied and split-risk across multiple tenants.
The property is situated within the established Auckland City industrial precinct of Mt Wellington on a major thoroughfare road. Surrounding development in the vicinity comprises a mix of older heavy industrial and newer office/warehouse development covering a wide variety of production and manufacturing uses.
One major landmark in the vicinity is Sylvia Park Shopping Centre, located a short distance from the property.
In general, this is a well-regarded and established industrial location.
Investor Information Evening
Investors looking for somewhere safe to park their funds and earn a projected 6% pre-tax return plus capital gains are invited to find out more about investing in Provincia Property Fund at an investor information evening…
DATES: Thursday 24 October, Thursday 31 October, Thursday 7 November, Thursday 14 November 2019.
TIME: 6:15 PM for a 6:30 PM start. Allow one hour.
WHERE: Newland Burling offices, 268 Manukau Rd, Epsom
WHY: We are offering 83 parcels of shares of $50,000 to investors, with a projected pre-tax return of 6% p.a. plus capital gains. Come along to learn more about the fund.